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Forex: EUR/USD testing session lows around 1.3070/75

The euro is navigating in session lows in the vicinity of 1.3070/75, as the risk-off mode is prevailing in the global markets, keeping the euro demand subdued.

Moving forward to tomorrow’s calendar, the single currency would be put to the test as final figures of the manufacturing PMI in the euro area will be the most relevant releases, ahead of the German Retail Sales and EMU/Italy inflation figures and unemployment rate.

At the moment, the pair is down 0.49% at 1.3049 facing the next support at 1.3047 (Ichimoku cloud base) would aim for 1.3041 (low Feb.27) and finally 1.3018 (low Feb.26).
On the upside, resistance levels align at 1.3163 (high Feb.28) ahead of 1.3170 (hourly cloud top) and then the psychological level at 1.3200

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